RE: Shareholders group10 Jul 2017 13:40
Pj2814,
Fortunately I do not have any experience in delisted shares. A few suspended but not delisted.
I was expecting that the BOD would put out a RNS today, or a statement on their website, providing a fuller update. Prefebally, they would volunter to do a shareholders Q&A meeting. This would not be difficult to do. Maybe they will still do this, without having to be prompted by PIs. This would be best all around.
Holding regular Q&A sessions are neither difficult or expensive to do. Companies like JLP do regular Interactive Webcast with the CEO and Chairman both present to field shareholder questions. It does not require a studio.It could be done from their offices on site.
With RRL they do regular written Q&As, to keep shareholders updated and remove misconceptions which can form when there is no direct communication with the BOD. Incidentally, this Q&A was as a result of pressure from a RRL shareholders group which was set up when the company's shares were suspended. Ironically, their shares are suspended for the second time for a reverse takeover.
I see no reason why the Allecto Share Group once it is established cannot do the same. If the period of delisting was for a protracted period, ie several months or more, then I believe that shareholders should press for a regular, monthly update and Q&A session. I do not think that pointing the shareholders in the direction of the Investor Relations Officer is sufficient in the situation that we are in.
We will be more persuasive if as many shareholders register their holdings in the shareholders register at the new site. There are some big holders here, namely yourself as well as Ragdoll2, Sharehunter and a few others. If they lend their support here then I do not think that the BOD can dismiss our request. IMO one we have exceed 10% of the share holding, and are effectively the second largest grouping behind Gerald Chapman then we can submit a letter directly to the head office, as well as through the IR office with instructions to pass the communication to the BOD. We could even try forwarding the letter to the Chairman as well.
Mike Jones is regularly saying how the BOD is fully aligned with shareholders. That they are shareholders too. Well if he and the BOD are genuine, then they should have no difficulty in agreeing to keeping ALL shareholders updated and informed.
This is my current thinking on the matter. I am happy to hear any other views.